Citi Announces Senior Appointment

HONG KONG, Nov. 22, 2012 /PRNewswire/ -- Citi Hong Kong announced today the appointment of Mr. Weber WP Lo as the new Citi Country Officer (CCO) and Chief Executive Officer for Citi Hong Kong and Macau, effective January 1, 2013, succeeding Mr. Shengman Zhang, who will continue his role as the Co-Chairman for Citi Asia Pacific. In his new appointment, Mr. Lo will be responsible for all businesses across the Citi franchise in Hong Kong and Macau. He will also join the Citi Asia Pacific Executive Committee, reporting to Citi Asia Pacific CEO, Stephen Bird.

Mr. Stephen Bird, CEO, Citi Asia Pacific said, "Weber's appointment demonstrates our commitment to planned succession and leadership development in Citi, and I look forward to Weber continuing to strengthen our client relationships and to sustainably grow our businesses in Hong Kong and Macau. I would like to thank Shengman for his outstanding stewardship of the Hong Kong franchise, which has seen our core businesses continue to grow."

Mr. Lo is currently head of consumer banking business of Citi in Hong Kong and Macau, covering retail banking, investment, insurance, credit card and consumer lending as well as commercial banking.

Mr. Lo joined Citi's consumer banking group in 2000 as Head of Citigold, the bank's wealth management business. In 2001, he was appointed Head of Bankcard Marketing and subsequently became Country Marketing Director and Director of Retail Banking in 2002 and 2003 respectively. Before becoming CEO and Country Business Manager, he was Chief Operating Officer and Director of Retail Banking, overseeing the operations and development of the retail banking business in Hong Kong and Macau, including sales and distribution. Prior to joining Citibank, Mr. Lo held senior positions in Coca-Cola China Ltd. and Procter and Gamble (HK) Ltd.

Mr. Lo is currently the Chief Executive and an executive director of the Board for Citibank (Hong Kong) Limited, and a member of the Board of Directors for China Guangfa Bank in China. During his time running Citibank Hong Kong Mr. Lo oversaw Citi's rapid expansion in Hong Kong to double our branch network in the last three years.

In addition, Mr. Lo serves as a member of the Banking Advisory Committee under the Hong Kong Monetary Authority and the Chairman of the Financial and Treasury Services Committee of the Hong Kong General Chamber of Commerce. Other public service engagements include being a member in each of the following: the Financial Services Advisory Committee of the HK Trade Development Council; the Joint Committee on Student Finance for the Hong Kong SAR Government; Board of Trustees and Fund Management Committee of the Lord Wilson Heritage Trust; and HKU SPACE Business Studies Advisory Board.

About Citi

Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.